6-395. Possession by superintendent and
receivership
If the status of a bank as an insured bank is terminated by the federal deposit
insurance corporation or the superintendent finds that a bank is in such an unsafe or
unsound condition that it is or will become unable to meet the anticipated demands of its
depositors and that the condition cannot be corrected by the procedures of chapter 1,
article 5 of this title or section 6-137, the superintendent may immediately take
possession and control of the bank and in such event shall, through the attorney general,
apply to the superior court for the appointment of a receiver for the bank. The court
may act upon the application forthwith and without notice to any person. If at any time
the court finds that no ground for receivership exists, the receivership shall be
dissolved and the superintendent's possession terminated.
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